The profit beat Wall Street predictions by a penny, while the revenue fell slightly short. But Church & Dwight also projected a lower-than-expected third-quarter profit and full-year earnings roughly in line with Wall Street predictions, warning that it expects tough consumer spending conditions to continue. Its shares tumbled 7 percent in morning trading.

The Princeton, N.J.-based consumer products company earned $79.3 million, or 56 cents per share, down from $82.6 million, or 57 cents per share, in the same quarter last year. Revenue rose 3.2 percent to $696.4 million from $674.9 million.

Analysts, on average, expected a profit of 55 cents per share on $702.2 million in revenue, according to a FactSet poll.

James Craigie, the company’s chairman and CEO, said Church & Dwight’s sales continue to get a boost from the introduction of new products, including high-tech cat litters and musical children’s toothbrushes.

In addition, the company continues to expand its presence in the $300 million vibrator market, which it joined in 2005 with its Trojan brand. This year, the company is adding a line of full-sized vibrators, he said.

"We are very pleased with the distribution and sales gains at our entire vibrations line, which we believe has been aided by the popularity of the ‘Fifty Shades Of Grey’ novel," Craigie said.

Church & Dwight said it expects the tough economic conditions to continue for the rest of the year, with high unemployment and consumer worries about the economy hurting its growth.

Based on its results for the first half of the year, the company said it expects to post a third-quarter profit of 58 cents per share and an adjusted full-year profit of $2.41 to $2.43 per share.

Analysts polled by FactSet expect a third-quarter profit of 61 cents per share and a full-year profit of $2.43 per share.

Church & Dwight shares fell $3.72, or 6.5 percent, to $51.98 in morning trading, after dropping as low as $50.64 earlier in the day. Over the past 52 weeks, the company’s shares have traded between $37.28 and $59.27.